Goldman Sachs has raised Jardine Cycle & Carriage (C07.SG) target price to $30.60 from $28.60 on back of earnings upgrades following recent 4Q09 results; maintains “neutral” rating, reported Dow Jones Newswires.
Goldman Sachs says holding company’s 4Q09 results strong, raises FY10, FY11, FY12 earnings forecasts by 6%, 4%, 10%, respectively, driven mainly by better-than-expected performance at 50%-owned automotive subsidiary Astra International (ASII.JK).
